Fitch Ratings on Servicer Performance: ‘It Showed Resilience’

first_img The Best Markets For Residential Property Investors 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago January 12, 2021 985 Views Bank servicers experienced a modest decline of about 6% in active forbearance agreements as a percentage of all loss mitigation plans while non-bank servicers reported a decline of about 10%—that’s one takeaway from the Q3 U.S. RMBS Servicer Metric Report from Fitch Ratings, which tracks servicer performance data.The report also revealed that loan modifications as a percentage of all loss mitigation alternatives increased for both bank and non-bank servicers from last quarter as some initial forbearance relief periods expired, Fitch reported this quarter, adding that borrowers on a repayment plan continue to trend downward as a percentage of all loss mitigation alternatives, year over year.Fitch’s report also showed a continued upward trend in hiring full-time employees that emerged in the second-quarter report.”Both bank and non-bank servicers have been staffing up in response to an increase in the volume of coronavirus-related relief requests from borrowers. However, the trend was more modest in the third quarter,” the authors noted.”The report provides transparency into a variety of servicing industry trends in the bank and non-bank sectors,” Fitch researchers stated. “It also allows users to view individual servicer performance trends over the most recent four quarters and compare those data metrics with those of other servicers, revealing strengths and weaknesses in servicer performance during this critical time in the industry.”  Print This Post Subscribe in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Best in Legal Guide: McCalla Raymer Leibert Pierce Next: Fannie Mae Update: Mortgage Servicer Sentiment Amid Pandemic Challenges Home / Daily Dose / Fitch Ratings on Servicer Performance: ‘It Showed Resilience’ Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Fitch Ratings on Servicer Performance: ‘It Showed Resilience’ About Author: Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago 2021-01-12 Christina Hughes Babblast_img

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